Market Reactions to New Tariffs

Stock indexes in the United States opened lower on Wednesday, reacting to the implementation of new US tariffs on all imported cars, steel, and aluminum. The market's downturn was further fueled by anticipation of reciprocal tariffs from global trade partners, expected to be announced by US President Donald Trump.

Tesla's Disappointing Delivery Numbers

In corporate news, Tesla Inc. reported its first-quarter deliveries for 2025 at 336,681 units, falling short of analysts' expectations. This news contributed to the downward pressure on the stock market.

Index Performances

By 9:30 am ET, the Dow Jones had dropped 0.82%, or 343 points, with Nvidia shares losing 2.92%. Simultaneously, the Nasdaq 100 dipped 1.34%, and the S&P 500 fell by 1.03%. Tesla's significant tumble of 5.56% was a notable drag on both indexes.

Currency Movements

The euro showed strength against the dollar, gaining 0.27% to trade at $1.08230 by 9:28 am ET.